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Virgin America in profit for the first time

Thursday, 27 March 20143 min read

For the first time since its 2007 launch, Virgin America has reported its first ever full-year profit.

The California based airline said net income was $10.1 million, reversing losses of $145.4 million in 2012.

It carried 6.3 million passengers in 2013, up slightly from 6.2 million in 2012 while average fares rose 4.3% to $204.

Revenue per available seat mile increased by 8% over the year

After years of breakneck expansion, 2013 was a year of consolidation, focusing on existing routes and improving cost efficiencies.

The bottom line was also helped with fuel costs down by 5% and it also restructured debt, lowering interest rate payments.

CEO David Cush called 2013 "a year of tremendous progress" and recently said the company may be ready for a public listing later this year.